Case Page

 

Case Status:    SETTLED
On or around 05/31/2017 (Ongoing date of last review)

Filing Date: March 29, 2016

According to the law firm press release, the lawsuit alleges defendants made false and/or misleading statements and/or failed to disclose that: (1) the unaudited condensed consolidated financial statements for the two fiscal quarters ended June 30, 2015 and September 30, 2015 improperly recognized revenues related to certain DS Healthcare Group customers, which did not meet revenue recognition criteria; (2) the unaudited condensed consolidated financial statements for the two fiscal quarters ended June 30, 2015 and September 30, 2015 contained certain equity transactions for the periods ended June 30, 2015 and September 30, 2015 that were not in accordance with United States Generally Accepted Accounting Principles and which were also not properly disclosed; (3) Defendant violated his fiduciary duty to DS Healthcare Group and its subsidiaries; and (4) as a result, defendants’ statements DS Healthcare Group’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On July 2, 2016, the Court appointed Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended complaint on November 2.

On May 26, 2017, the parties filed a Stipulation of Settlement. The Settlement was preliminarily approved by the Court on May 31.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DSKX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 16-CV-60661
JUDGE: Hon. William P. Dimitrouleas
DATE FILED: 03/29/2016
CLASS PERIOD START: 08/13/2015
CLASS PERIOD END: 03/23/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 16-CV-60661
JUDGE: Hon. William P. Dimitrouleas
DATE FILED: 11/02/2016
CLASS PERIOD START: 05/15/2014
CLASS PERIOD END: 04/03/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date